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Entrepreneurial Spirit

Hello, everyone. This is an essay about entrepreneurial spirit. Could you help me proofread it? Thank you very much.

Despite initial distribution, material resources that create wealth flow eventually into the hands of the people with entrepreneurial spirit. That is a tendency in a free market. By using others’ wealth, the enterprising people begin to amass a fortune. That is the root of an efficient market. In this market, resources can be transferred dynamically and automatically from high efficiency groups to low efficiency ones.

As a Chinese saying goes, wealth does not pass three generations. That smacks of bitterness, but also reveals the essence of the free market—wealth per se does not guarantee wealth. After all, wealth is not created by wealth. The offspring of those rich, enterprising people are not necessarily able to best use their resources, a phenomenon which in a status society reduces the efficiency of resource utilization. However, a free market system enables these families to hand naturally their resources over to those with entrepreneurial spirit. If the non-entrepreneurial people are reluctant to do so, they will be eliminated ruthlessly by the market, which bankrupt them to relinquish the control over resources. The market requires that resources are transferred to the most efficient entrepreneurs. This cannot be achieved in a power-controlled economy, a status society, or a state-owned enterprise system, because their economic efficiency is much lower than in a society where market allocates resources.

Therefore, if the market is expected to allocate resources efficiently, it is unnecessary to worry about how successful, retiring entrepreneurs will arrange for their companies. Eventually, wealth and resources, will come to those endowed with entrepreneurial spirit. As long as the market is free, this trend is irreversible. Hence a priority in a society is to design systems in which non-entrepreneurial people can easily turn their resources over to those with the spirit. The systems can be discovered and created naturally provided entrepreneurs give free rein to their entrepreneurial spirit and enjoy protection of their property rights.